Market Architecture: Limit Order Books Versus Dealership Markets

Menu Auctions, Resource Allocation, and Economic Influence

B. Douglas Bernheim, Michael D. Whinston · The Quarterly Journal of Economics · 1986 · 1.3K citations

Dealer versus auction markets: A paired comparison of execution costs on NASDAQ and the NYSE

Roger D. Huang, Hans R. Stoll · Journal of Financial Economics · 1996 · 1.1K citations

Market Microstructure, Electronic Auction, Financial Economics +10

Informed Speculation with Imperfect Competition

Albert S. Kyle · The Review of Economic Studies · 1989 · 997 citations

Economics, Prediction Market, Market Equilibrium +13

Is the Electronic Open Limit Order Book Inevitable?

Lawrence R. Glosten · The Journal of Finance · 1994 · 993 citations

Consolidated Price Schedule, Market Equilibrium, Market Design +18

The Dynamics of Dealer Markets Under Competition

Thomas S. Y. Ho, Hans R. Stoll · The Journal of Finance · 1983 · 801 citations

Market Equilibrium, Market Design, Equilibrium Market Spread +16